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— Another San Diego GISBeX stock is Safe Travel Care. This company has changed its name and its mission several times in the past few years. For a while, it was MLM World News, reporting on developments in the multilevel marketing or pyramid marketing world. It underwent a 100-1 reverse stock split in 2002 and a 200-1 reverse split the following year. In a 100-1 reverse split, the investor turns in 100 shares and gets 1 share back. It's not a good sign. Nor is the fact that the company, which specializes in travel insurance (such as insurance against stolen luggage) moved out of its fancy Executive Square digs in La Jolla, no longer maintains an office, and can't be reached for comment. The company has recorded consistent losses, and its accountant questions its viability. The stock trades for less than a penny a share.

So that's the kind of issue trading on B.J.'s GISBeX. The question is: does B.J. run it from prison? "It's just speculation," says Davis. "You know Gallison. He's an operator, manipulator, smart. You somehow just assume he's running it from his jail cell."

Marchant has his suspicions but won't make that assumption. Gallison Sr. says his son is not running GISBeX. He says that a key operator is Robin Michele Rushing, a former officer of La Jolla Capital. In 1996, she was slapped with a cease-and-desist order by the Securities and Exchange Commission and has had other regulator run-ins on her record -- but not as many as B.J.

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